Not a lawyer, that is just what I have observed and been told by lawyers.

In my market these are called "drive-by appraisals" and cost about $275So, with a refinance they have the luxury of knowing what it appraised for last time it sold and then they can observe (if they want) the updates made since then, the time of ownership, and the valuation of that area since the original purchase price.  

That kind of lines up with my observation that the property may have been a duplex in the past and explains why it was converted back.

Single Sponsor is really a personal preference, but for my observations most folks that have experience with both tend to lean Single Sponsor.

I don't want to pile on to your credit situation or trying to be a jerk, but my observation is a few things:First, I think you need to really know your numbers and find a way to get some financial literacy to be able to communicate relevant information here a bit more clearly.Second, obviously - fix your credit. 

I’m just speaking into the observations I’ve made over time.

Anyway....Don’t take this post so serious, it’s only an observation over months and months of zero contribution supplemented with uniformed advice. 

Try to take this info and your own personal observations. 

The more they bid up properties the lower the "cap rate" goes (i.e. you can observe this just by doing the math on the formula NOI/value).

Go ahead, I'm repeating what a CPA had said, my observation of a friend getting screwed and my own experience.